Lloyds shares are facing the doubled edged sword of higher rates as the benefits of a higher net interest margin are becoming increasingly threatened by any slow down in the Uk housing market. The ECB has recently hiked rates and the odds are pretty high the Bank of England will follow suit and continue to […]

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Credit Suisse announced the appointment of several new executives to its board on Monday. The bank confirmed the appointment of Dixit Joshi as CFO, Francesca McDonagh as COO and Michael J. Rongetti as ad interim CEO of the Asset Management division. Wealth Management division CEO Francesco De Ferrari has also been confirmed as CEO of […]

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Lloyds shares are never absent from the blue chip spotlight, however the collective market magnifying glass has intensified this week on the release of the latest UK inflation data, which revealed the economy had hit the dreaded double-digits at 10.1% nationwide inflation. Interest rates are currently at 1.75% and set to rise further, if the […]

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TBC Bank shares climbed 3.7% to 1,604p in late morning trading on Friday after the Georgia-focused company announced a 10% climb in the national economy, boosting business. The firm reported a 235 million GEL profit in Q2, representing a 6% fall year-on-year linked to a high base in 2021 due to provision recoveries and gains […]

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Barclays shares were down 1.9% to 154.5p in late morning trading on Thursday after profits missed management expectations at a pre-tax profit of £3.7 billion in HY1 2022. The accidental over-issuance of US securities earlier this year continued to drag the company down, with an attributable profit of £2.5 billion after absorbing charges net of […]

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Credit Suisse has been found guilty on charges of money laundering, according to the verdict reported on Monday, with the bank ordered to pay fines of £1.7 million alongside £17 million to the Swiss government. The verdict found the banking company guilty of failure to adequately prevent members of a Bulgarian crime syndicate from profiting […]

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The Lloyds share price is down 8% year-to-date, so how does a discerning investor choose whether to go in on the banking mainstay for their portfolio? Lloyds’ shares are currently trading at a PE ratio of 5.9, which is could be perceived to offer value compared to its fellow banks, with HSBC at 9.5 and […]

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Bank and finance provider PCF Group (LON: PCF) is in discussions with Castle Trust Capital, a bank that received a banking licence even more recently, concerning a potential share offer for the company. Existing PCF shareholders are likely to have a small minority investment in the enlarged group if the bid goes ahead. PCF owns […]

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Hargreaves Lansdown has announced a 12-month fixed-rate deal of 2.36% from Kent Reliance on its Active Savings platform. The company reported that the deal increases up to 2.56% with cash back offer, representing the highest available rate in over five years. Kent Reliance was also the first to offer rates in excess of 2% in […]

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Barclays is one of the highest-performing stocks on the FTSE 100 since the Bank of England hiked interest rates to 1% in early May. As inflation looks set to hit double-digits in October this year, where are Barclays shares likely to go? Barclays shares have fallen 20.8% year-to-date, however with the rise in interest rates […]

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Lloyds shares were up 2% to 46.8p in early morning trading on Wednesday, following a positive Q1 update from the company with a 12% increase in net income to $4.1 billion compared to £3.6 billion in Q1 2021. The firm reported a £1.2 billion statutory profit and against £1.4 billion in Q1 2021 on higher […]

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HSBC shares were down 3.5% to 484p in early morning trading on Tuesday, following a post-tax profit fall of $1.1 billion to $3.4 billion and an adjusted pre-tax profit drop of $1.6 billion to $4.7 billion. The company said its suboptimal results could be traced to a net charge for expected credit losses and additional […]

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Dividends fell at their slowest rate since the onset of the pandemic during Q1 Investors will be expecting to receive raised dividends, in addition to share buybacks, as companies which secured their profits during the past year look set to divide it up. Payouts have fallen at their slowest rate since the pandemic first came […]

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New York-based investment bank Goldman Sachs (NYSE:GS) has outperformed Wall Street analysts’ predictions with a jump in profits, as its investment banking, wealth management and bond, currency and commodities trading divisions all thrived during the pandemic. Goldman Sachs reported quarterly revenue of $11.74 billion, up 18% from a year ago, and posted net income of […]

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The governor of the Bank of England, Andrew Bailey, has suggested that the UK’s unemployment rate may actually be higher than official figures currently show as the coronavirus pandemic continues to drive a surge in redundancies. In a speech to business leaders at the virtual Scottish Chambers of Commerce conference, Bailey acknowledged that the UK […]

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Capping off an altogether mixed week, FTSE indexes finished Friday with a slump, having decided to go into the weekend with the prospect of a No-Deal Brexit as the main takeaway. Down by 0.80%, the FTSE 100 reversed its mid-week gains and finished at 6,546 points, just shy of where it began on Monday. Meanwhile, […]

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With bank pay-outs on ice, Q3 dividends hit their lowest level since the financial crash aftermath in 2010 – down by 49.1% on a headline basis, to £18.0 billion. Of the estimated £14.7 billion of cuts during the third quarter, some two fifths of this number came from bank dividend reductions, due to Bank of […]

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Gold gained towards the end of the week after the initial buzz from the news that the BioNTech-Pfizer vaccine proved more than 90% effective in Phase III tests begun to wear off, with doubts over the efficacy and distribution. Markets soared back on Monday in response to the US election result, but coupled with the […]

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On Monday the Treasury announced that it would be extending its emergency business loan schemes to enable SMEs to ‘top up’ their borrowing, in an effort to help companies survive the new English (and perhaps soon UK-wide) COVID lockdown. As per the new amendments announced by the Chancellor, businesses will have until the end of […]

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On Thursday, the Treasury announced that businesses using the government’s COVID loan schemes saw their debt increase by a combined £4.62 billion over the past month. This figure, which includes the £2.18 billion added by the 100% government-guaranteed ‘bounce back’ loans, is only set to rise, with authorities pushing new regions into more stringent restrictions […]

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Leaked documents belonging to the so-called FinCEN Files – a collation of 2,657 banking documents, of which 2,100 have been classified as ‘suspicious activity reports’ – have revealed that HSBC (LON:HSBA) allowed the fraudulent transfer of $80 million into accounts based in Hong Kong between 2013 and 2014, despite being aware that the transaction was […]

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New data presented by Buy Shares has revealed that 14 of the world’s largest banks cumulatively lost $635.33 billion in market capitalisation during the coronavirus pandemic. Some of banking’s biggest names were found to have suffered huge losses, with America’s Wells Fargo down -56.26% in market cap, followed by Spain’s Banco Santander at -46.16%. The […]

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The European Central Bank has called on Eurozone banks to continue scrapping dividends and to be “extremely moderate” with its bonus payments to staff, until at least the beginning of next year. Today’s call by the ECB is expected to be mirrored, at least in part, by the Bank of England. The move by Europe’s […]

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With March to May being a turbulent period for shareholders, June appeared to be the month where some semblance of usual service resumed. Though, while most companies began finding their feet again, most of their share prices were significantly below where they were at the start of the year, with a return to previous levels […]

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Royal Bank of Scotland Group (LON:RBS) saw its share price drop during Friday trading, despite the good progress booked in its full-year fundamentals. The new RBS Chief Executive Alison Rose also said the company would change its name to ‘NatWest’, in an effort to move away from its wrongdoings before and during the 2008 financial […]

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In a week that is typically quite quiet in the markets as attentions turn to the festive period Lloyds (LON:LLOY) has announced it’s first acquisition since the 2008 financial crisis buying MBNA from Bank of America for £1.9bn. MBNA holds assets of £7bn would increase revenues by £650m a year Lloyds has confirmed, with profits […]

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Italian banks have showed signs of recovery on Wednesday, after a heavy referendum defeat led to the resignation of Prime Minister Matteo Renzi. Following the Italian people’s overwhelming “No” response to proposed constitutional reforms, Italian banking shares plummeted amidst concern over the country’s political instability. However, shares in the world’s oldest bank – Monte dei […]

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RBS bank has been delivered a £846m ($1.1bn) fine, after investigations into its involvement in causing the 2008 financial crash. The fine is to be one of three scheduled, after extensive investigations conducted by the National Credit Union Administration (NCUA) board. This most recent fine is however, included within the stipulated £3.8bn that the bank […]

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